Tag Archives: Audit Triggers

IRS Audit Risk Is Decreasing, But What If You’re in the Unlucky Few?

This time of year, most Americans are gathering income statements and preparing to file their returns. The good news for both businesses and individuals is that the risk of being audited is low and continues to drop. Last year, the number of people and organizations the IRS audited dropped again—to just over one million. However, […]

The 4 Common Triggers for Getting Audited, If You’re Self-Employed

The phrase “You’re being audited” may strike fear in your heart, and rightly so. An IRS audit on your self-employed tax return can be time-consuming, intimidating and frustrating. Consider four common triggers that can cause a dreaded audit. Filing Schedule C You file a Schedule C because it calculates your business profits and losses and […]